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Sri Lanka launches shopping festival to attract customer traffic into retail areas
Nov 04, 2014 (LBO) – Sri Lanka launched a Sri Lanka shopping festival or SLASH recently with an aim to increase customer traffic into retail areas multi-fold and attract hundreds of thousands of additional shoppers across multiple locations to create additional businesses for retailers organizers said in a media release. Organizers also plan to immense […]
Sri Lanka stocks close up 0.36-pct
Nov 03, 2014 (LBO) – Sri Lanka’s stocks closed 0.36 percent higher with Commercial Bank gaining amid net foreign buying, brokers said. Foreign investors bought 604.96 million rupees worth shares while selling 127.54 million rupees worth shares. Commercial Bank of Ceylon closed 3.80 rupees higher at 169.60 rupees, contributing most to the index gain. The […]
What can be done about landslide disasters
We’ve had too many disasters in recent years. The tsunami, the LTTE, floods, Nandikadal, floods. And now Koslanda. After the tsunami we asked what could be done to avoid a repeat. We found answers. Ten years later we can be confident that it will not be that bad, the next time (http://www.lankabusinessonline.com/news/what-have-we-learned-since-the-2004-indian-ocean-tsunami/756626867). But landslides are […]
Sri Lanka makes further progress on financial sector consolidation: Central Bank
Nov 03, 2014 (LBO) – Sri Lanka Central Bank says that further progress was made by banks and finance and leasing companies (NBFIs) on the financial sector consolidation process, during the month of October this year. During the month of October 2014, Central Finance Co. PLC & Isuru Leasing Co.Ltd. and Arpico Finance Co. PLC […]
Sri Lanka Central bank says inflation declines considerably in October
Nov 03, 2014 (LBO) –Sri Lanka inflation continued its decelerating trend observed since June 2013 and reached 1.6 per cent in October 2014 compared to 4.7 per cent in July 2014, on an annual average basis the Central bank of Sri Lanka said in a media release. Prices in Clothing and Footwear; Health; Recreation and […]
Sri Lanka stocks close up 0.4-pct
Oct 31, 2014 (LBO) – Sri Lanka’s stocks closed 0.44 percent higher with Commercial Bank and John Keells Holdings gaining amid strong foreign buying, brokers said. Commercial Bank of Ceylon closed 3.80 rupees higher at 165.80 rupees and John Keells Holdings closed 2.20 rupees higher at 257.20 rupees, contributing most to the index gain. DFCC […]
SriLankan Airlines gets a new version of Airbus A330
Oct 31, 2014 (LBO) – SriLankan Airlines, the national carrier has taken delivery of Airbus A330 -300 aircraft as it continues to expand its global route network with more fuel-efficient and maintenance cost friendly models from Airbus. This delivery launches the process of the fleet renewal and replacement program and affords us the opportunity to […]
Sri Lanka stocks close up 0.4-pct
Oct 30, 2014 (LBO) – Sri Lanka’s stocks closed 0.39 percent higher with index heavy John Keells Holdings gaining amid continued foreign buying, brokers said. John Keells Holdings closed 5.20 rupees higher at 255.00 rupees, contributing most to the index gain. JKH’s W0022 warrants closed 60 cents higher at 74.50 rupees and its W0023 warrants […]
Sri Lanka Planters™ Association says sustainability of tea industry in the hands of workers
Oct 30, 2014 (LBO) – Sri Lanka planter association estimates increase of two kilograms in the daily plucking average of tea of each worker can bring down unit cost of production by 30 rupees or 6.5 percent and significantly boost Sri Lanka™s entire plantation industry and benefit all stakeholders by bringing down the skyrocketing unit […]
Sri Lanka™s tea industry under pressure due to high costs
Oct 30, 2014 (LBO) – Sri Lanka™s Ceylon Tea is in its death spiral due to higher cost of production and wages and, needs more value addition, marketing and branding to uplift the industry to its former glory, an industry official said. Ceylon tea still has its position for quality but it is under severe […]
Haldummulla Disaster
Oct 29, 2014 (LBO) – A Landslide destroyed a plantation in Haldummulla, Central Sri Lanka on Wednesday (29) morning and have killed at least 100 people and leaving more than 150 trapped, a media report said. An about 330 people had been living at the location at the time of the tragedy. The mobilized armed […]
Sri Lanka stocks close up 0.5-pct
Oct 29, 2014 (LBO) – Sri Lanka’s stocks closed 0.54 percent higher with banking stocks gaining amid continued net foreign buying, brokers said. Lanka IOC closed 2.80 rupees higher at 51.80 rupees and Lanka Orix Leasing Company closed 2.80 rupees higher at 90.00 rupees, contributing most to the index gain. Hatton National Bank closed 4.00 […]